Do you know anything about the Trump coin?
No?
Donald Trump and his family did not have that until yesterday.
Tweet may have been deleted
It has come to our attention that someone is promoting a currency called TrumpCoin.
Legal action will be taken, he said.
TrumpCoin is an alternative coin, which is also referred to as an altcoin or meme coin. In this case, Donald Trump, these types of cryptocurrencies have no real utility and are connected to a theme.
People invest in memecoins because they think it will be the one to take off and make them rich. They are similar to the gold bullion Trump Coins you see on TV. TrumpCoin is not affiliated with those bullion coins.
It appears that Eric Trump and the rest of the family had to wait a long time to discover TrumpCoin. The website states that TrumpCoin launched in February 2016 during the campaign season, well before Donald Trump was elected in November of that year.
The trading data for TrumpCoin was provided by CoinMarketCap. There are over 6 million coins currently circulating with a market cap of over $1 million.
In an immediate response to Eric Trump, the official account for the unauthorized Trump coin retweeted another user who pointed out that the meme coin is not affiliated with Trump, his family, or organizations.
Tweet may have been deleted
A statement was released this morning by the Trump coin account that said it was currently in contact with Eric Trump.
The first Trump-inspired coin to make headlines was TrumpCoin.
NASCAR turned down a sponsorship deal that it had offered driver Brandon Brown, and that's when LGBCoin became famous. "Let's Go Brandon" is a new favorite slogan of Trump supporters and is the basis of LGBCoin.
It is not clear what the future holds for TrumpCoin as it relates to Eric Trump. If a deal can be made that is prosperous for Donald Trump, he may be able to keep his coin.
